HMRC Inheritance Tax: Customer Guide
Tell me about nil rate bands
- What is the nil rate band for Inheritance Tax from 18 March 1986 to the present date?
- What was the nil rate band for Estate Duty from 16 August 1914 to 12 March 1975?
- What was the nil rate band for Capital Transfer Tax from 13 March 1975 to 17 March 1986?
What is the nil rate band for Inheritance Tax from 18 March 1986 to the present date?
The Inheritance Tax nil rate band is the amount of the estate on which there is no Inheritance Tax to pay. If the estate, including any assets held in trust and gifts made within seven years of death, is less than the nil rate band, no Inheritance Tax will be due on it.
The table below shows the different nil rate bands in use for deaths between 18 March 1986 and the present date.
From |
To |
nil rate band |
|---|---|---|
18.03.1986 |
16.03.1987 |
£71,000 |
17.03.1987 |
14.03.1988 |
£90,000 |
15.03.1988 |
05.04.1989 |
£110,000 |
06.04.1989 |
05.04.1990 |
£118,000 |
06.04.1990 |
05.04.1991 |
£128,000 |
06.04.1991 |
09.03.1992 |
£140,000 |
10.03.1992 |
05.04.1995 |
£150,000 |
06.04.1995 |
05.04.1996 |
£154,000 |
06.04.1996 |
05.04.1997 |
£200,000 |
06.04.1997 |
05.04.1998 |
£215,000 |
06.04.1998 |
05.04.1999 |
£223,000 |
06.04.1999 |
05.04.2000 |
£231,000 |
06.04.2000 |
05.04.2001 |
£234,000 |
06.04.2001 |
05.04.2002 |
£242,000 |
06.04.2002 |
05.04.2003 |
£250,000 |
06.04.2003 |
05.04.2004 |
£255,000 |
06.04.2004 |
05.04.2005 |
£263,000 |
06.04.2005 |
05.04.2006 |
£275,000 |
06.04.2006 |
05.04.2007 |
£285,000 |
06.04.2007 |
05.04.2008 |
£300,000 |
06.04.2008 |
- |
£312,000 |
What was the nil rate band for Estate Duty from 16 August 1914 to 12 March 1975?
England, Wales and Scotland
From |
To |
nil rate band |
|---|---|---|
16.08.1914 |
09.04.1946 |
£100 |
10.04.1946 |
29.07.1954 |
£2,000 |
30.07.1954 |
08.04.1962 |
£3,000 |
09.04.1962 |
03.04.1963 |
£4,000 |
04.04.1963 |
15.04.1969 |
£5,000 |
16.04.1969 |
30.03.1971 |
£10,000 |
31.03.1971 |
21.03.1972 |
£12,500 |
22.03.1972 |
12.03.1975 |
£15,000 |
Northern Ireland only
From |
To |
nil rate band |
|---|---|---|
16.08.1914 |
28.08.1946 |
£100 |
29.08.1946 |
31.10.1954 |
£2,000 |
1.11.1954 |
03.07.1962 |
£3,000 |
04.07.1962 |
21.05.1963 |
£4,000 |
22.05.1963 |
03.06.1969 |
£5,000 |
04.06.1969 |
04.05.1971 |
£10,000 |
05.05.1971 |
21.03.1972 |
£12,500 |
22.03.1972 |
12.03.1975 |
£15,000 |
What was the nil rate band for Capital Transfer Tax from 13 March 1975 to 17 March 1986?
England, Wales, Scotland and Northern Ireland
From |
To |
nil rate band |
|---|---|---|
13.03.1975 |
26.10.1977 |
£15,000 |
27.10.1977 |
25.03.1980 |
£25,000 |
26.03.1980 |
08.03.1982 |
£50,000 |
09.03.1982 |
14.03.1983 |
£55,000 |
15.03.1983 |
12.03.1984 |
£60,000 |
13.03.1984 |
05.04.1985 |
£64,000 |
06.04.1985 |
17.03.1986 |
£67,000 |
